Nation
GK Vasan quits Congress, to float new party

The decision by Vasan brings to end to his 14-year-long association with Congress following the merger of Tamil Manila Congress floated by his father GK Moopanar

 

Dealing a blow to the struggling Congress, its senior leader and former union minister GK Vasan quit the party and announced his decision to float a new outfit in Tamil Nadu.

 

Blaming those who were entrusted with the affairs of Congress in Tamil Nadu for failing in their duty to strengthen the party, Vasan announced that he and his supporters have decided to resign from Congress.

 

“We are starting a new party. The name of the new party and its symbol would be announced soon at a rally to be held in Tiruchi shortly," he said.

 

Vasan said the approach of AICC in Tamil Nadu was not satisfactory in achieving its goal which prompted him to resign from the party.

 

“To achieve the goal in Tamil Nadu, there should be a different direction, a different approach from AICC, which we are not satisfied with. We are having a new path.... we feel it will be a victory path”, he said in stout defence of his new move.

 

The decision by Vasan to disassociate from Congress, brings to end to his 14-year-long association with the grand old party following the merger of Tamil Manila Congress floated by his father GK Moopanar.

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Dabur Q2 net profit up 15% to Rs287.48 crore

During the September quarter, Dabur’s net sales increased 10.3% to Rs1,924 crore, compared to Rs1,743.5 crore in the year- ago period

 

Dabur India Ltd reported 15.1% increase in its consolidated net profit at Rs287.48 crore for the second quarter ended 30 September 2014. The company had net profit of Rs249.74 crore in the July- September quarter last fiscal.

 

Dabur’s Q2, 2014-15 net sales went up by 10.35% at Rs1,924.09 crore, compared to Rs1,743.5 crore in the year- ago period, the company said in a regulatory filing.

Dabur’s consumer care business increased by 7.55% to Rs1,602.82 crore, while foods business grew by 29.20% to Rs262.79 crore.

 

For the six month period ended 30 September, the company posted a net profit of Rs498.29 crore as against Rs435.75 crore in the year-ago period. Net sales of the company for the six month period ended 30th September, rose to Rs3,787.99 crore as compared to Rs3,390.5 crore a year ago.

 

Dabur closed Monday 1.8% up at Rs230 on the BSE, while the 30-share Sensex ended the day marginally down at 27,860.

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Bajaj Auto sales down 3% in October 2014

BAL said exports were up 14.87% during the month of October 2014 at 1,58,547 units as compared to 1,38,022 units in October 2013

 

Bajaj Auto reported 3.27% decline in motorcycle sales at 3,36,923 units in October 2014. The company had sold 3,48,323 units in the corresponding month of previous year, Bajaj Auto Ltd (BAL) said in a statement.

 

BAL said exports were up 14.87% during the month at 1,58,547 units as compared to 1,38,022 units in October 2013. In the commercial vehicles category, its sales stood at 49,094 units, up 32.68%, against 37,000 units in the same month of the previous year.

 

The total vehicle sales of the company during last month stood at 3,86,017 units, marginally up by 0.18%, against 3,85,323 units in the same month a year-ago, the statement added.

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